Indonesian Economy in 2018 Grows 5.17%: Exports Decline, Imports Rise

Indonesia’s economic growth throughout 2018 only managed to grow 5.17%. This figure is far from the target set in the 2018 State Budget which is 5.4%.

The Head of the Central Statistics Agency (BPS) Suharyanto said that throughout 2018, Indonesian goods exports recorded a decline compared to the previous year. While imports actually rose.

“The value of Indonesian goods exports is not encouraging, there was a decrease of 4.48% quarter to quarter and 1.04% year on year. Imports were greater than exports that during October, November, December we experienced a trade balance deficit,” he said at the BPS office , Jakarta, Wednesday (02/06/2019).

The value of Indonesian goods exports fell by 1.04% (yoy) while imports of goods rose 12.10% (yoy). This is certainly a disruption to Indonesia’s economic growth following a correction in the trade balance.